Whirlpool of India share price declines 3% after THIS update related to parent company

Whirlpool of India share price: Shares of home appliance manufacturer Whirlpool of India Ltd, a wholly owned subsidiary of Whirlpool Corporation, fell on Wednesday after global financial services major Moody's downgraded the parent company's rating.

Whirpool Corp makes 80% of the products sold in the US domestically, but any slowdown from tariffs announced by President Trump could impact consumer spending and stall the company’s recovery, Moody's said.

Whirlpool of India share price

The stock declined as much as 3% to ₹1,252.2 apiece on the National Stock Exchange (NSE). At 11:03 am, it was down 2.44% to ₹1,260 per unit.

The company had reported an 57% increase in its consolidated net profit to ₹43.96 crore in the December quarter of the financial year 2024-25, compared to ₹27.99 crore a year back.

Revenue from operations stood at ₹1,704.85 crore, up 11% from ₹1,535.65 crore in the corresponding period of the last fiscal year.

Whirlpool Corp is considering offloading a 31% stake in the Indian subsidiary, which generates 85% of its Asia revenue, while keeping a 20% holding, according to the report. The transaction could generate net cash proceeds of ₹4,684-₹5,110 crore.

On January 30, 2025, the company had said, “Today, as part of its fourth-quarter earnings release, Whirlpool Corporation announced its intention to sell down its ownership interest in Whirlpool of India Ltd. ("Whirlpool India") to approximately 20% by mid to late 2025, by way of one or more market sales ("Anticipated Sell-Down"). Whirlpool Corporation, which currently holds a 51% ownership interest in Whirlpool India, expects to remain the largest shareholder following completion of the anticipated sell-down.”

In February 2024, the parent had divested a 24.7% stake in Whirlpool of India through block deals for ₹4,039 crore.

The company had reported a 57% increase in its consolidated net profit to ₹43.96 crore in the December quarter of the financial year 2024-25, compared to ₹27.99 crore a year back.

Revenue from operations stood at ₹1,704.85 crore, up 11% from ₹1,535.65 crore in the corresponding period of the last fiscal year.